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    95% Prediction Interval : Regression analysis

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    A regression of accountants' starting salaries in a large firm was estimated using 40 new hires and five predictors (college gpa, gender, score on cpa exam, years' prior experience, size of graduating class). The standard error was $3620.

    Find the approximate width of a 95 percent prediction interval for an employee's salary assuming the predictor values for the individual are near the means of the sample predictors. Would the quick rule give similar results? hide problem

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    Solution Summary

    This solution is comprised of a step by step explanation for computing 95% Prediction Interval for predicted value from regression model.